Main shareholders of APG|SGA consider sale of shareholdings
APG|SGA could see significant changes in its shareholder structure. The two main shareholders, JCDecaux and Pargesa Asset Management, have reached an agreement regarding a possible coordinated sale of their stakes. APG has been informed accordingly, the outdoor advertising group announced on Tuesday.
As a result, the Board of Directors has initiated a process to find a potential buyer for the entire company. The Board of Directors will ensure that the interests of the company's various stakeholders are taken into account, the press release continued. The process could lead to a transaction of the company and/or a sale of the shares held by the two main shareholders, but does not necessarily have to.
JCDecaux and Pargesa Asset Management together hold around 55 percent of the shares. Further information will follow when appropriate, the press release added.
As APG|SGA announced on Tuesday, the company increased its advertising revenue by 4.8% to CHF 325.6 million in 2023. The digital business in particular saw above-average growth. The bottom line was a 14.6 percent higher net profit of CHF 26.8 million. (SDA/swi)
